MVision AI, a Helsinki, Finland-based cloud-based AI-powered radiotherapy planning solution for treating cancer, raised €5.4 million in a post-seed financing round led by Swedish J12 Ventures and Finnish Voima Ventures.
The funds will be used to develop new solutions to speed treatment and build a globally scalable cloud-based platform for cancer treatment.
“The burden of cancer is growing for patients, hospitals, and carers. Our cloud-based AI-powered technology provides faster and more reliable clinical decision-making for cancer patients undergoing radiotherapy treatment. With our automation, we can speed up the entire treatment planning process while still delivering high-quality care,” MVision’s Founder and CEO Mahmudul Hasan says.
With manual treatment planning, a patient diagnosed with cancer often needs to wait 2–3 weeks for treatment to start. “Our automation enables same-day treatment. We are making same-day treatment a standard in cancer treatment globally,” Hasan adds.
The company uses artificial intelligence to automate cancer treatments with its unique automatic segmentation tool. MVision AI’s technology has been used to treat more than 100,000 cancer patients in 14 countries, with most patients originating in Finland, Sweden, and the UK.
Company: MVision AI Ltd.
Round: post Seed Round
Funding Month: March 2023
Lead Investors: J12 Ventures and Voima Ventures
Company Website: https://www.mvision.ai/
Software Category: AI-powered Radiotherapy Planning Solution
About the Company: Founded in 2017 by Mahmudul Hasan, Jarkko Niemelä, and Saad Ullah Akram, MVision AI is a pioneering, cloud-based software service provider for radiotherapy treatment planning. The AI-powered automatic segmentation tool helps to standardize contouring and automate segmentation to streamline the radiotherapy treatment planning workflow. Its deep learning model produces consistent contouring in minutes while maintaining the highest standards of quality for every patient, every time. MVision AI’s Guideline-Based Segmentation solution has been used for treating more than 100,000 cancer patients in 14 countries.